Графични страници
PDF файл

uer as the directors may order. All stockholders shall be entitled to vote at a general meeting, in person, or by proxy ; and one vote shall be allowed for each share: but no share or shares, shall give to any stockholder a right to vote, unless the same shall have stood in his name on the books of the bank, at least three months previous to the time of voting. sect. 5. Not less than three directors shall constitute a board for transacting the business of the bank, of which the president shall always be one, except in the case of sickness, or necessary absence, when the directors present shall supply his place, by electing one of their number, as president for the occasion. No director shall be entitled to any emolument for attending to the duties of his office, except the president, who shall receive such compensation as the board of directors shall judge reasonable, for his extraordinary service. sect. 6. A cashier, and such other officers and agents, as shall be requisite, for performing the business of the corporation, shall be appointed; and their compensation shall be regulated by the board of directors, who may determine the securities to be given, by any of them, for the faithful performance of any of their trusts. sect. 7. The board of directors shall have the disposal and management of the monies, credits, and property of the corporation, with power to regulate the concerns thereof, in all cases not herein otherwise provided for. But the corporation shall not trade in any thing, excepting bills of exchange, gold or silver bullion, or in the sale of goods, pledged for money lent, and not redeemed in due time ; er in lands necessarily taken for the security of debts, previously contracted. Nor shall the corporation take more than at the rate of six per cent per annum premium, for or upon loans; and dividends of such part of the profits as the directors may judge proper, shall be made semi-annually. The debts of the corporation, whether by bill, bond, or note, shall not, at any time, exceed fifty per cent over and above the total amount of the capital stock actually paid in, and of the monies deposited in the bank for safe keeping. sect. 8. The bills or notes of the corporation, signed by the president, and countersigned by the cashier or treasurer thereof, promising the payment of money, to any person or order, or to bearer, shall be obligatory on the corporation, according to the tenor thereof, and shall be assignable according to the custom of merchants, and the laws relating to inland bills of exchange. And all negotiable notes, duly executed, may be indorsed to the bank, in the same manner, and on the same principles, as to individuals, and the bank may maintain suits thereon, for the recovery of the money.

Voting.

Board of directors.

Compensation.

Officers and agents.

Powers of directors.

Business restricted.

Debts re-
stricted. --

Bills and
notes of the
bank.

Notes indors-
ed to the bank.

Subscriptions sect. 9. The bank shall be open, at all times, for sub

Å. o ... scriptions, at the rate, of one hundred dollars for each

...” ** share, from the school fund of this state, or from the funds of any college, ecclesiastical society, school, or corporation for charitable purposes, within this state : provided, that shares so subscribed, shall not be transferable, but may, at any time, be withdrawn, on giving six month's notice to the directors : and the shares so subscribed, and those subscribed by the state, shall never

- exceed the shares subscribed by individuals.

From the sect. 10. The state of Connecticut shall have right,

state. at any time, to subscribe to said bank, at the rate of one hundred dollars for each share ; and whenever the state shall have subscribed five hundred shares, and paid for the same, they shall have a right of appointing two additional directors of said bank.

Power of re. sect. 11. This act, or any part thereof, may, at any

vocation. time, be altered, amended, or revoked, at the pleasure of the general assembly.

CHAP. X.

An Act to incorporate the Phoenix Bank.

- 1 Fo it enacted by the Senate and House of RepSECT, I. resentatives in General Assembly convened, That the stockholders of the Phoenix Bank in Hartford, their successors and assigns, shall be and remain a body politic, and corporate, by the name of “The President, Name of cor- Directors, and Company of the Phanir Bank,” and by poration. that name, shall be capable in law, to purchase and hold General pow- all kinds of property, real and personal, and the same, at ers. pleasure, to sell and convey ; to sue and be sued, in all courts whatever; to have and use a common seal, such as they may devise ; and to make and carry into effect, all such by-laws and regulations as may be deemed expedient for the proper management of the affairs of the corporation, not repugnant to their charter, the laws of the state, or of the United States; and generally, to do and cause to be executed, all such acts and things, as to them may appertain, subject to the provisions herein

contained. - sect. 2. The capital stock of said bank, shall consist Capital stock of ten thousand shares, each share being one hundred

dollars; which shall be transferable, according to such
rules as may be established by the directors, together
with such sums as have been, or shall be, subscribed, by
this state, or from the school fund thereof, or the funds
of any college, ecclesiastical society, school or corpora-
tion for charitable purposes, in this state, pursuant to the
provisions hereinafter contained.
sect. 3. For well ordering the affairs of the corpora-
tion, there shall be eleven directors, who shall be elected
annually, by the stockholders in general meeting. None
but stockholders shall be eligible as directors; and not
less than two thirds shall be resident in Hartford. At
their first meeting after each election, the directors shall
choose one of their number for president; and whenever
the place of president or director shall become vacant,
by resignation or otherwise, the same may be supplied
by the choice of the directors, for the remainder of the
year. All elections for president or directors, shall be
by ballot: no person shall be eligible as director, for more
than three years out of four, except the president.
sect. 4. A general meeting of the stockholders, shall
be holden on the first Thursday in September annually,
when directors shall be chosen. A general meeting may
be called, whenever the board of directors sball think
proper; and fifteen days previous to any general meeting,
whether stated or special, notice thereof shall be given in
a newspaper published in Hartford, and in such other
manner as the directors may order. All stockholders
shall be entitled to vote at a general meeting, in person
or by proxy ; and one vote shall be allowed for each
share; but no share or shares in said bank, shall give to
any stockholder a right to vote, unless the same shall have
stood in his name on the books of the bank, at least three
calendar months previous to the time of voting.
sect. 5. Not less than three directors shall constitute
a board for transacting the business of the bank; of whom
the president shall always be one, except in case of sick-
ness or necessary absence, when the directors present
shall supply his place, by electing one of their own num-
ber as president for the occasion. No director shall be

Directors.

President.

Annual meeting. Meetings, how called.

Voting.

Board of directors.

Compensa

entitled to any emolument for attending to the duties of tion.

his office, except the president, who shall receive such
compensation as the board of directors may judge reason-
able, for his extraordinary services.
sect. 6. A cashier, and such other officers and agents
as may be requisite, for performing the business of the
corporation, shall be appointed, and their compensation
shall be regulated, by the board of directors, who may
determine the securities to be given, by any of them, for
the faithful performance of any of their trusts.

Officers and agents.

Powers of directors.

Restrictions.

Bills and notes of the bank.

Notes indorsed to the bank.

Right of the state to subscribe.

Subscriptions from school fund, societies, &c.

Branch at
Litchfield.

sect. 7. The board of directors shall have the disposal and management of the monies, credits and property of the bank, with power to regulate the concerns thereof, in all cases, not herein otherwise provided for. But the corporation shall not trade in any thing, except bills of exchange, gold or silver bullion, or in the sale of goods for money lent, and not redeemed in due time, or in lands necessarily taken for debts previously contracted; nor shall the corporation take more than at the rate of six per cent per annum premium, for or upon its loans: and dividends of such parts of the profits as the directors shall judge proper, may be made semi-annually. The debts of the corporation, whether by bill, bond, or note, shall not, at any time, exceed fifty per cent over and beyond the total amount of the capital stock, actually paid in, and of the monies deposited in the bank for safe keepIng.

over. 8. The bills or notes of the corporation, signed by the president, and countersigned by the cashier, or treasurer thereof, promising the payment of money to any person or order, or to bearer, shall be obligatory on the corporation, according to the tenor thereof, and shall be assignable according to the custom of merchants, and the laws relating to inland bills of exchange. And all negotiable notcs, duly executed, may be indorsed to the bank, in the same manner, and on the same principles, as to individuals; and the bank may sue thereon for the recovery of the money.

sect. 9. The state of Connecticut shall have right, at any time, to subscribe to the said bank, at the rate of one hundred dollars for each share ; and whenever the state shall have subscribed five hundred shares, and paid for the same, they shall have the right of appointing two additional directors of said bank.

sect. 10. The bank shall, at all times, be open for subscriptions, at the rate of one hundred dollars for each share, from the school fund of this state, and from the funds of any college, ecclesiastical society, school, or corporation for charitable purposes, within this state : provided, that shares so subscribed, shall not be transferable. but may, at any time, be withdrawn, on giving six months' notice to the directors; and that the shares so subscribed, and those subscribed by the state, shall never exceed the shares subscribed by individuals.

sect. 11. And said bank shall have power to establish a branch of said bank, in the town of Litchfield, in Litchfield county, for the purpose of discount and deposit; and one fourth part of the capital of said bank, paid in, or which shall hereafter be paid in, shall be employed in said branch; and at the annual meeting of the stockholders in said Hartford, for the choice of officers, there shall, in addition to the eleven directors beforementioned, be also chosen seven directors of said branch, five of whom shall live within said town of Litchfield; which last mentioned directors, shall, within a reasonable time, choose one of their number to be president of said branch, and shall appoint a cashier, and such other agents as shall be necessary. No director of said branch, shail be entitled to any emolument for attending to the duties of his office, except the president thereof, who shall receive such compensation, as the board of directors of said branch, may judge reasonable, for his extraordinary services.

sect. 12. All bills issued by said branch, shall be signed by the president, and countersigned by the cashier of the principal bank in Hartford, and shall be made payable to the president of said branch, or the bearer thereof, and may be issued and paid out at said bank in Hartford, or at the branch bank in Litchfield; and the same shall be assignable and transferable, according to the custom of merchants, and the laws relating to inland bills of exchange. And the directors shall have the same powers, and be subject to the same restrictions and regulations, with the exceptions, and limitations herein before contained, in the management of said branch, as is provided in this act, for the directors of the principal bank : and the directors of said branch, shall account with the directors of the principal bank in Hartford, at all reasonable times, when thereunto required.

sect. 13. This act, or any part thereof, may, at any time, be altered, amended or revoked, by the general assembly.

CHAP. XI.

An Actenabling the treasurer of the state, to subscribe the monies of this state, to the Hartford, New-Haven and Middletown Banks.

1 B” it enacted by the Senate and House of RepSECT. 1. resentatives in General Assembly convened, That the treasurer of the state shall have power to subscribe to the Hartford, New-Haven and Middletown Banks, in proportion to their capitals, any monies belonging to the state, now on hand, or that may, from time to time, come into the treasury: the state to be entitled to all profits and dividends, which may accrue thereon, in the same manner as the other stockholders of said banks :

Branch directors.

President.

Compensation.

Bills issued by the branch bank.

Powers of branch directors.

Power of revocation. .

State treasurer authorised to subscribe.

« ПредишнаНапред »